Like several other carriers, OOCL is raising freight rates on shipments out of China and the Far East next month in what is ordinarily the slack winter season.
In recent weeks a number of other carriers, including Mediterranean Shipping Co. and CMA CGM have posted rate increases or peak season surcharges for carrying cargo out of China and other Asian countries where factories are working overtime to fill orders in advance of the lunar New Year that begins Feb. 3.
Rate Hike news from JOC:
Hardly A Slack Season.
OOCL said it will hike freight rates for westbound cargo from Asia, excluding Japan, to North Europe the Mediterranean and the Black Sea by $300 per 20-foot equivalent unit as of Jan. 2.
The Hong Kong-based carrier is boosting rates to Australia from North East Asia, including China, Hong Kong, Taiwan and Korea, by $250 per TEU as of Jan. 15.
It is also increasing rates for cargo to Australia from Southeast Asia, including Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, the Philippines, the Indian Subcontinent and the Middle East, by $200 per TEU as of Jan. 15.
OOCL said the rate increases are the next phase of its “revenue recovery” program, which it said is necessary to ensure sufficient capacity to meet customer requirements.
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